Hunter Hotel Advisors announced the recent $48.75 million recapitalization of the 212-key Cambria Hotel Austin (Texas) Downtown. Stratus Development Partners, in collaboration with Choice Hotels International, secured bridge financing from Benefit Street Partners. Proceeds were used to pay off the construction lender and fund an upfront reserve.
Hunter’s Charlie Ryan, senior vice president of capital markets, represented Stratus. This transaction marks one of the first closings for Hunter’s newly established capital markets team, signaling a strong start for the division.
“We are happy with the execution of the transaction and the amount of bridge lender interest Hunter brought to the project,” said Andrew Wood of Stratus. “Downtown Austin is a vibrant market, and our Cambria Hotel Austin Downtown is positioned to provide both travelers and neighbors alike a best-in-class-stay.”
Opening its doors in October 2023, the Cambria Hotel Austin Downtown is located steps away from the renowned Rainey Street, Austin’s social and entertainment hotspot. Attracting both leisure and business travelers, guests enjoy the hotel’s modern amenities including a rooftop restaurant and bar, 15,000 square feet of meeting space, state-of-the-art fitness center and a resort-style pool.
“This successful recapitalization of the Cambria Hotel Austin Downtown represents a significant milestone for our new capital markets team,” said Teague Hunter, president and CEO of Hunter. “It demonstrates our ability to secure substantial financing for high-quality assets and underscores our commitment to providing tailored solutions for our clients. We look forward to continuing to deliver exceptional results and expanding our impact in the industry.”
